4.8.15

Iran needs new civilian planes

.
.
.
.

Iran bank to fund plane purchases

Iran says a plan is on agenda to provide funds to companies to buy planes.

By Presstv.com

. Iran says it is studying a plan to create a fund to provide loans to enable domestic businesses to purchase planes. . Maqsood
As’adi-Samani, the secretary of the Iranian Aviation and Space
Industries Association (IASIA), said on Tuesday that a plan to the same
effect has been presented to the relevant authorities.. As’adi-Samani
told Fars News Agency that the plan envisages the creation of a bank by
the IASIA, stressing that the bank will answer the existing shortfalls
in budgets of domestic companies for purchasing planes.. He
emphasized that this is a shortcoming that needs to be addressed by the
banks and financial institutions “as is customary in other countries”.. “Iran’s
aviation companies are unable to provide all the required funds to buy
planes by relying on their current revenues,” said As’adi-Samani.. The
official further said the establishment of IASIA’s own bank – which he
said could be named the Air Transport Development Bank of Iran – can
eventually help with the renovation of Iran’s aviation fleet.. He
emphasized that the required funds for the proposed bank will be
provided from the National Development Fund (NDF) as well as certain
related financial facilities.. “The NDF previously provided
funds to companies to buy planes through banks but required guarantees
above the value of their assets,” As’adi-Samani.“But this problem has been resolved and the government can now accept planes as guarantees for the loans it pays the companies.”. Iranian
officials announced last week that the country plans to place orders
with aviation giants Boeing and Airbus to purchase up to 90 planes per
year until 2020.. The country says it needs above 400 civilian aircraft worth at least $20 billion in the next decade to renovate its aging fleet.

About Me

I have been under state surveillance and covert harassment in the UK since 1985, by MI-5 and their gullible friends where ever they are found, and overt harassment with surveillance since march of 1996, when I submitted my final year law degree dissertation, 'The relationship between the state, the security services and the law'.